Guideline Value for GABIREL ESTATE

Gabirel Estate guideline value

The current guideline value of Gabirel Estate is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class V Type - II.

How the guideline value of Gabirel Estate has changed

The guideline value for Gabirel Estate has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which increased to Rs 502 per sq.ft in the 2017 revision. Following this, the value saw a significant rise to Rs 1,000 per sq.ft in the 2023 revision, which remained the same in the 2024 revision, indicating no change from the previous year.

Notably, the increase from the 2017 revision to the 2023 revision was 99%. However, the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 33%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, positioning Gabirel Estate's 2024 figure below this median.

• Fathimabevi Garden: Rs 1,100 per sq.ft (2024)
• Ganapathy Garden: Rs 1,000 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,800 per sq.ft (2024)
• Ezhil Muga Nagar: Rs 1,100 per sq.ft (2024)
• Ganapathy Syndicate Colony: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar Co-Opearative Society(Sholinganallur Co - Op Maha Nagar: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Gabirel Estate

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gabirel Estate?

The Sub Registrar Office that covers Gabirel Estate is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Chemmancheri

The guideline value is a crucial factor in property transactions in Chemmancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration norms and to calculate the applicable stamp duty and registration fees.

When purchasing property, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Gabirel Estate?

The current guideline value of Gabirel Estate is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 1,000 per sq.ft in 2024, with significant fluctuations in between, including a drop to Rs 502 per sq.ft in 2017.

What are the other streets in Chemmancheri with their guideline values?

Other streets in Chemmancheri include Fathimabevi Garden at Rs 1,100 per sq.ft, Ganapathy Garden at Rs 1,000 per sq.ft, and Ganapathy Nagar at Rs 1,800 per sq.ft, among others.

What is the stamp duty for property in Gabirel Estate?

The stamp duty for a property in Gabirel Estate is 7% of the guideline value. For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000.

Which office handles property registration for Gabirel Estate?

The Neelankarai Sub Registrar Office handles property registration for Gabirel Estate, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.